I believe we will have one more flush down to the green line I have marked. That line/zone is the correlation between the 618 fib level and the previous high of my Algo/Rsi.
Once we bounce off that level, we should re-break the marketcap high, and then the sign to sell will likely be a double top with bearish divergence.
I love Gold and Silver, Silver way more, but it's hard to believe Gold won't eventually be back to around 1450 before we see any kind of bottoming formation which is needed before a healthy move back up.
We could still be 1-2 years out from that happening, but none the less, now is the time to acquire. It won't pay you dividends, ,which is why they're frowned...
In April at $25, my silver dealer was selling junk silver for $1 under spot.
Today it's $19 and that same junk silver is now selling for $8 above spot.
Perception vs Reality is at an all time high in difference. Most people think metals suck and the prices continue to drop, yet the supplies continue to bleed dry.
This is a historical buying opportunity...
Just closed the weekly candle above our green line. Still unsure how high we can go, but the chart does says we've confirmed the run up we've been looking/hoping for.
Ideally would love to see us retest before going up to the 47-48k zone.
XRP is in a big descending wedge pattern. It should follow the wedge all the way down to around the 52 cent level, and break out of the wedge retesting and then going back down to gather up more buyers at or around that same level to put in the double bottom before it's run up.
I will be paying close attention to BTC and predict BTC will top out around 57k...
I have attached a line chart comparing the two. There were four previous points of intersection, and if you take those same weekly dates and apply them to BTC, you will find that they match up perfectly with the January/February and May/June consolidation phases before a run up.
Today we are intersecting on a key level of support for BTC where we will hopefully...
This is Bitcoin on the weekly chart.
As you can see we're right on the 50 week MA. The two times in history that Bitcoin has failed to hold the 50 week MA, it fell all the way to the 200 MA, which currently sits sub 20k.
If we are able to put in some sizable consecutive green candles, this could be the start of the run that everyone has been anticipating, but...
